ANOTHER CYPHER SHORT SET UP W/ LONG REVERSAL TRADE!!
BTC is way over extended and the trade is crowded to the short side, so to bring buyers back in the market , they will run it as they are doing to get people out of their trades and back in at the supply zones. Theyve been doing it FOR MONTHS. Its the way markets work in all asset classes.
This set up is bi- directional, short once the top side momentum turns(bearish print) and targets are the last leg fibs. You can hold the trade or start scaling out at .50 - .786. BTC may turn back up and reject around the .382 - .270 at that time, you can re- enter short for the continuation trade short. IF you dont get the reversal candle close at/around .618 -.786 HOLD trade short. IF BTC rejects off .618 -.786 exit short and take long trade to above targets. APPLY 20- 25X LEVERAGE on BITMEX with no more than a 1.5% stop loss from entry as this is past both levels where price is negating the action for structure. PLEASE REFRENCE MY OTHER CYPHER SETS UPS ON MY PAGE!
This set up is bi- directional, short once the top side momentum turns(bearish print) and targets are the last leg fibs. You can hold the trade or start scaling out at .50 - .786. BTC may turn back up and reject around the .382 - .270 at that time, you can re- enter short for the continuation trade short. IF you dont get the reversal candle close at/around .618 -.786 HOLD trade short. IF BTC rejects off .618 -.786 exit short and take long trade to above targets. APPLY 20- 25X LEVERAGE on BITMEX with no more than a 1.5% stop loss from entry as this is past both levels where price is negating the action for structure. PLEASE REFRENCE MY OTHER CYPHER SETS UPS ON MY PAGE!
Trade active:
cypher D leg got extended with the 6500 TRAP TRADE they sucked all those buyers in from 6500-6600. so move your fib leg up and targets are still active..and watch for reversal close between .618 and .786 . If you didnt get in..I will update with another entry short as they make their way through these fibs.
cypher D leg got extended with the 6500 TRAP TRADE they sucked all those buyers in from 6500-6600. so move your fib leg up and targets are still active..and watch for reversal close between .618 and .786 . If you didnt get in..I will update with another entry short as they make their way through these fibs.